Amazon Q3 net sales rise 13% to $143.1bn
Its net income increased to $9.9bn (£8.2bn) in the third quarter or $0.94 (£0.78) per diluted share, compared with $2.9bn (£2.4bn), or $0.28 (£0.23) per diluted share, in third quarter 2022
Amazon has revealed that its net sales rose 13% to $143.1bn (£118bn) for the three months ended 30 September 2023, up from $127.1bn (£104.9bn) in the same period in 2022.
The company’s net sales were also up 11% excluding the $1.4bn (£1.2bn) favourable impact from year-over-year changes in foreign exchange.
International segment sales increased 16% year-over-year to $32.1bn (£26.5bn), or increased 11% excluding changes in foreign exchange rates.
Furthermore, the company’s operating income more than quadrupled from $2.5bn (£2bn) last year to $11.2bn (£9.2bn) this year.
The retailer’s international business saw an operating loss of $0.1bn (£0.08bn), compared with an operating loss of $2.5bn (£2bn)in third quarter 2022.
Its net income increased to $9.9bn (£8.2bn) in the third quarter or $0.94 (£0.78) per diluted share, compared with $2.9bn (£2.4bn), or $0.28 (£0.23) per diluted share, in third quarter 2022.
Andy Jassy, Amazon CEO, said: “We had a strong third quarter as our cost to serve and speed of delivery in our Stores business took another step forward, our AWS growth continued to stabilise, our advertising revenue grew robustly, and overall operating income and free cash flow rose significantly.
“The benefits of moving from a single national fulfilment network in the U.S. to eight distinct regions are exceeding our optimistic expectations, and perhaps most importantly, putting us on pace to deliver the fastest delivery speeds for Prime customers in our 29-year history.”
